Fixing Unemployment Insurance [Publication Details]

Dec 2, 2024 - Benefits now routinely outpace incoming tax contributions, leading to a costly reliance on federal loans and constraining the state’s options to improve the program. This report describes the problems with the system in greater detail, including historical context and our projections of the future.
https://lao.ca.gov/Publications/Detail/4943

Fixing Unemployment Insurance

Dec 2, 2024 - Redesign Employer Tax Rates Recommend Redesigned Employer Tax Rates. We recommend the state adopt a simple, robust UI tax structure composed of a standard tax rate and a reserve ‑building tax rate. In  this section, we describe the two tax rates, how they work together, and present the tax rates that would go into effect should these recommendations be adopted.
https://lao.ca.gov/Publications/Report/4943

CalFacts 2024 [Publication Details]

Dec 2, 2024 - CalFacts presents a wide range of facts and trends about the state's economy, finances, and programs.
https://lao.ca.gov/Publications/Detail/4942

Update: Tech Company Equity Pay Driving Withholding in 2024 [EconTax Blog]

Nov 20, 2024 - With Stock Price Run-Up, Equity Pay Now An Even Larger Contributor to Income Tax Withholding.   As California 's tech companies have grown in size and value, equity pay withholding has increased as a share of total income tax receipts.
https://lao.ca.gov/LAOEconTax/Article/Detail/815

Update: Tech Company Equity Pay Driving Withholding in 2024 [EconTax Blog]

Nov 20, 2024 - With Stock Price Run-Up, Equity Pay Now An Even Larger Contributor to Income Tax Withholding.   As California 's tech companies have grown in size and value, equity pay withholding has increased as a share of total income tax receipts.
https://lao.ca.gov/LAOEconTax/article/Detail/815

The 2025-26 Budget: Medi-Cal Fiscal Outlook

Nov 20, 2024 - MCO Tax Federal Approval of Recent MCO Tax Increases Is Pending. To go into effect, the MCO tax must receive federal approval, conditioned on meeting certain rules. The federal government approved the current version of the MCO tax in December 2023.
https://lao.ca.gov/Publications/Report/4941

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Income tax collections have seen a similar bounce. This recovery in income tax revenues is being driven by the recent stock market rally, which calls into question its sustainability in the absence of improvements to the state ’s broader economy.
https://lao.ca.gov/Publications/Report/4939

The 2025‑26 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 20, 2024 - Regarding local property tax revenue, our estimates are up $789   million relative to the June 2024 estimates. This increase reflects recent data showing an uptick in home sales, which generate additional property tax revenue as properties are reassessed at market value.
https://lao.ca.gov/Publications/Report/4940

U.S. Retail Sales Update: October 2024 [EconTax Blog]

Nov 15, 2024 - U.S. retail sales have grown 1.1 percent over the last 3 months and 2.8 percent over the last 12 months. Retail sales growth has outpaced inflation substantially over the last 3 months, but only slightly over the last 12 months.
https://lao.ca.gov/LAOEconTax/article/Detail/816

U.S. Retail Sales Update: October 2024 [EconTax Blog]

Nov 15, 2024 - U.S. retail sales have grown 1.1 percent over the last 3 months and 2.8 percent over the last 12 months. Retail sales growth has outpaced inflation substantially over the last 3 months, but only slightly over the last 12 months.
https://lao.ca.gov/LAOEconTax/Article/Detail/816